Adobe Inc. (NASDAQ:ADBE) Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,844 shares of the software company's stock after selling 8,289 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Adobe were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Adobe during the 4th quarter worth approximately $2,553,035,000. Proficio Capital Partners LLC lifted its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock valued at $463,701,000 after buying an additional 1,041,513 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Adobe by 82.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock valued at $937,291,000 after buying an additional 952,233 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Adobe by 1,414.5% in the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after acquiring an additional 830,300 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Adobe by 225.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company's stock worth $478,453,000 after acquiring an additional 745,827 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of ADBE traded up $5.62 on Tuesday, reaching $413.31. The stock had a trading volume of 688,624 shares, compared to its average volume of 3,439,271. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The firm has a market capitalization of $176.15 billion, a PE ratio of 33.37, a PEG ratio of 2.15 and a beta of 1.55. The firm has a 50-day moving average of $377.53 and a 200 day moving average of $430.35. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada decreased their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group dropped their target price on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $502.88.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.